Citrix Systems Inc. (CTXS) Rating Lowered to Hold at Zacks Investment Research
Citrix Systems Inc. (NASDAQ:CTXS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Citrix’s third quarter results impressed as both earnings and revenues surpassed estimates. The company witnessed an improvement in revenues across key segments such as License updates and maintenance and Software-as-a-Service (SaaS). The company’s revenues increased in Americas and Asia Pacific. However revenues in the EMEA region declined. Citrix continues to expand its product offering through rapid innovation. The company is expected to benefit from its product diversification and operations across Desktop Virtualization and Cloud Infrastructure segments. We are positive on the proposed merger between LogMeIn and Citrix's GoTo business. Foreign exchange issues, however, remain a concern as Citrix forays into non-U.S. markets. We are, however, impressed with Citrix raising its earnings per share guidance (adjusted basis) for 2016 to a band of $5.18–$5.20 from $5.00–$5.10.”
Other research analysts have also issued research reports about the company. Morgan Stanley increased their price target on Citrix Systems from $77.00 to $84.00 and gave the stock an “underweight” rating in a research note on Thursday, October 20th. Jefferies Group lowered Citrix Systems from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $71.00 in a research note on Monday, August 1st. They noted that the move was a valuation call. Stifel Nicolaus lowered Citrix Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 27th. They noted that the move was a valuation call. Cowen and Company increased their price target on Citrix Systems from $95.00 to $97.00 and gave the stock an “outperform” rating in a research note on Thursday, October 20th. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of Citrix Systems in a research note on Sunday, October 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $88.22.
Citrix Systems (NASDAQ:CTXS) opened at 83.54 on Friday. The firm has a market capitalization of $13.03 billion, a PE ratio of 27.93 and a beta of 1.66. The company’s 50-day moving average price is $84.68 and its 200 day moving average price is $84.70. Citrix Systems has a 1-year low of $60.91 and a 1-year high of $90.00.
Citrix Systems (NASDAQ:CTXS) last posted its earnings results on Wednesday, October 19th. The cloud computing company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. Citrix Systems had a return on equity of 32.90% and a net margin of 13.69%. The firm had revenue of $841.30 million for the quarter, compared to analyst estimates of $827.21 million. During the same quarter in the prior year, the company earned $1.04 EPS. Citrix Systems’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts anticipate that Citrix Systems will post $5.20 EPS for the current year.
In other Citrix Systems news, SVP Klaus Oestermann sold 3,188 shares of the firm’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $83.46, for a total value of $266,070.48. Following the transaction, the senior vice president now owns 31,308 shares of the company’s stock, valued at $2,612,965.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David J. Henshall sold 300 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $87.50, for a total transaction of $26,250.00. Following the completion of the transaction, the chief financial officer now directly owns 206,481 shares in the company, valued at approximately $18,067,087.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of CTXS. Vanguard Group Inc. boosted its position in shares of Citrix Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 13,720,584 shares of the cloud computing company’s stock worth $1,098,882,000 after buying an additional 291,368 shares in the last quarter. FMR LLC boosted its stake in Citrix Systems by 65.3% in the second quarter. FMR LLC now owns 4,754,745 shares of the cloud computing company’s stock worth $380,807,000 after buying an additional 1,878,884 shares during the period. Nordea Investment Management AB boosted its stake in Citrix Systems by 70.2% in the third quarter. Nordea Investment Management AB now owns 3,259,636 shares of the cloud computing company’s stock worth $277,786,000 after buying an additional 1,344,047 shares during the period. Bank of Montreal Can acquired a new stake in Citrix Systems during the second quarter worth $213,278,000. Finally, AJO LP boosted its stake in Citrix Systems by 43.5% in the second quarter. AJO LP now owns 2,290,912 shares of the cloud computing company’s stock worth $183,479,000 after buying an additional 694,454 shares during the period. 97.30% of the stock is currently owned by hedge funds and other institutional investors.
Citrix Systems Company Profile
Citrix Systems, Inc develops and sells products and services that enable delivery of applications and data over public, private or hybrid clouds or networks, to virtually any type of device. The Company operates through two segments: Enterprise and Service Provider, and Mobility Apps. The Company’s Enterprise and Service Provider segment consists of Workspace Services and Delivery Networking products.
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